Quote:
Originally Posted by tatarwj
I bought my M240, but lease my wife's X3.
There are a couple tricks regarding leases.
We are on our 5th lease for the X3. We go with 3yr/30k miles. She only has 10 mile round trip commute to work and we take 2 beach trips a year in it (Pgh to HH and Pgh to TSI).
After 24-30 months into her lease, we start to get the itch for a new one. At that time, you can get any BMW dealership to buy out your lease (pretty sure any dealer or you can sell private but won't make it a smooth transition). We do this every time. The dealer bought back her 2020 X3 with 15k miles on it, and by doing that, we received 8k (trade in value way higher that payoff). Now that was due to the high value for used at that time, but going back to our other leases, we got anywhere from $2500-$4000 from selling our lease back. Add that $ to incentives and it's kept our lease payment right at $500/mo each time we trade it in. This time we got a couple extra upgrades since we got so much for the 2020. She has never paid for an oil change since her first lease in 2014, and hers car have always been under warranty. It's a seamless process, they appraise your lease, you build your new one, you track it to the dealer, they call you that it's ready, you sign a couple times and hand them the keys.
Another lease trick is for those that buy out after the lease is up, you negotiate what you are going to pay for the car. My friend did this 2-3 years ago with his truck and got another $2500 off of it. That isn't something I would do, but he loved the truck and didn't want to have to go through the process of getting another one, at that time.
I hope this information helps and feel free to ask for clarification if I was not able to provide that.
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I like this option. I don't keep cars for that long 1-2 years these are my toys/hobbies. So Your process is interesting to me. I am more interested in the flexibility you have vs saving a few $. Again hobbies cost money is how I look at it.
Hap